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Top challenges for India

Started by : Rajat Das Product Manager, Aviva   2 months ago
Posted in community: Pleasing the Indian Consumer
Industry : BankingTopic : Consumer Sales(Sales & Marketing)
Activity:  49 views;  last activity : 16 hours ago
Keywords : challenges, India

India could be 40 times bigger by 2050, and may also have the potential to be larger than the US by that time. To achieve this, however, India needs to implement many changes. There are certain challenges which it has to face in order to prosper and to have a satisfied base of customers. Lets contribute
 
 
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1 Improve governance
2 Control inflation
3 Improve infrastructure

Improve governance

idea posted by Rajat Das Product Manager, Aviva

Without better governance, delivery systems and effective implementation, India will find it difficult to educate its citizens, build its infrastructure, increase agricultural productivity and ensure that the fruits of economic growth are well established.

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by Rajshree Gururaj Product Manager, Citibank  2 months ago

Governance problems stem from the increasing inability of the government and public institutions to deliver public services in the face of rising expectations. A large gap between physical access to services and the quality of services provided is leading to a citizen satisfaction gap.

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Control inflation

idea posted by Prasenjit Saha Product Manager, ICICI Bank

For a nation that is rightly proud of its democracy and has a history of reasonable stability in terms of inflation, formal Inflation Targeting (IT) should become a centrepiece of a clearer, more defined and credible medium-term framework for macroeconomic stability. As part of this, greater independence for the Reserve Bank of India and the abolishment of all FX controls are recommended.
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by Shan Gehlot Product Manager, Citibank  2 months ago

We are well aware of some of the difficulties, both real and perceived, for India to adopt these choices, but it is in India’s best long-term interests to undertake these steps. IT has given major benefits to a broad variety of countries, ranging from ‘developed’ countries (such as New Zealand, Sweden and the UK) to ‘developing’ ones (such as Brazil, Korea and South Africa). For India, there are probably broader powerful benefits.

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Improve infrastructure

idea posted by Prasenjit Saha Product Manager, ICICI Bank


I believe we lack in providing international infrastructure. India's constraints in infrastructure are obvious to first-time visitors or long-term residents. The problems of clogged airports, poor roads, inadequate power, delays in ports have been well-recognized as impeding growth. Indian companies on average lose 30 days in obtaining an electricity connection, 15 days in clearing exports through customs, and lose 7% of the value of their sales due to power outages.
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by Yashpal Singh Tomar Product Manager, Barclays  2 months ago

Incremental demand for infrastructure will continue to increase due to economic growth and urbanization. The impact on infrastructure demand will be enormous, from demand for inner-city transport, water and sewerage to low-income housing. The Planning Commission estimates that India needs almost to double its ports, roads, power, airports and telecom in the next five years to sustain growth.

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